Flame retardant textiles rebounding from Covid 19 – FRX Q1 sales

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textiles
Photo- Unsplash

FRX Innovations, a leader in eco-friendly flame-retardant solutions, announces that it has started 2023 strongly, in line with others in the flame-retardant and fire-resistant textile industry.  At the Heimtextil International Trade Fair last week, “there was evidence that the hospitality sector of the textile market was recovering, unlike other segments” noted the well-respected textile industry consultant Dr Ulrich Girrbach.  He went on to say that “one bright spot is for flame-retarded and fire-resistant textiles used for hospitality applications such as in hotels, convention halls, cruise ships and other hospitality-related areas, certainly positive news after a difficult 3 years for the industry.”  This follows similar feedback from the Boutique Design New York meeting last November, which cited a recovery in the post-Covid hospitality business, as reported in the winter edition of Fabrics and Furnishings International. 

“This fits well with what our customers are telling us”, said Marc-Andre Lebel, CEO of FRX Innovations. “Indeed, we recently received a $1M forward order for 2023, up 30% from 2022 off-take, from one of our long-standing customers in flame retardant textile sector, while another customer, who told us in December that they would not order again until the end of the first quarter, has just rushed through an urgent quarter-million-dollar order for January shipment.  Things are clearly moving in a much more favorable direction in the FR Textile market.  Lebel continued, “Flame retardant textiles are used where people gather and throughout Covid, people were not gathering.  It’s great to see that this is no longer the case”,

Orders mentioned above are expected to generate roughly 45% contribution margin.  The contribution margin is defined as margin over variable costs.

To learn more about FRXI, its Nofia solution, and the overall fundamental changes taking place in this industry, please visit the FRXI website and learn how FRX is leading the industry to a safer world and cleaner future.

www.frx-innovations.com .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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